Model Description Market timing results from 2000 to 2019 are based on our Market Allocation Algorithm holding the top two (2) ranked assets each month. Risk control is added to keep asset(s) in cash if the algorithm indicates a negative primary pricetrend. Timing model trades are executed using the next close price each month based on the end of month signals. SWESMA Ticker [F] Sverige smabolag Name SWEINDEX [F] Sverige Indexfond USAINDEX [F] USA Indexfond WORLDINDEX [F] Global indexfond KORTRANTA [F] Rantefond kort LANGRANTA [F] Rantefond lang Portfolio Performance Metric Timing Model Equal Weight Portfolio INDEX 155601 SIX Return Index Start Balance $10,000 $10,000 $10,000 End Balance $104,863 $26,362 $29,864 CAGR 13.17% 5.23% 5.93% Stdev 10.10% 9.57% 18.71% Best Year 40.91% 28.67% 52.50% Worst Year 0.03% -22.57% -39.05% Max. Drawdown -12.60% -39.73% -63.08% Sharpe Ratio 1.12 0.41 0.32 Sortino Ratio 2.18 0.60 0.46 US Stock Market Correlation 0.34 0.75 0.76 01/02/2019 www.borssignaler.se 1 of 14
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Risk and Return Metrics Metric Timing Model Equal Weight Portfolio INDEX 155601 SIX Return Index Arithmetic Mean (monthly) 1.08% 0.46% 0.63% Arithmetic Mean (annualized) 13.73% 5.71% 7.79% Geometric Mean (monthly) 1.04% 0.43% 0.48% Geometric Mean (annualized) 13.17% 5.23% 5.93% Volatility (monthly) 2.91% 2.76% 5.40% Volatility (annualized) 10.10% 9.57% 18.71% Downside Deviation (monthly) 1.43% 1.83% 3.65% Max. Drawdown -12.60% -39.73% -63.08% US Market Correlation 0.34 0.75 0.76 Beta (*) 0.27 0.47 1.00 Alpha (annualized) 10.91% 2.02% -0.00% R Squared 24.88% 84.96% 100.00% Sharpe Ratio 1.12 0.41 0.32 Sortino Ratio 2.18 0.60 0.46 Treynor Ratio (%) 42.14 8.44 5.94 Calmar Ratio 0.53 0.42 0.33 Information Ratio 0.33-0.19 N/A Skewness 0.49-0.32-0.18 Excess Kurtosis 2.59 0.76 1.79 Historical Value-at-Risk (5%) -3.60% -4.87% -9.47% Analytical Value-at-Risk (5%) -3.72% -4.08% -8.26% Conditional Value-at-Risk (5%) -5.23% -6.07% -12.79% Upside Capture Ratio (%) 57.32 51.11 100.00 Downside Capture Ratio (%) 20.45 47.86 100.00 Sustainable Withdrawal Rate 11.58% 5.37% 5.20% Positive Periods 158 out of 228 (69.30%) 134 out of 228 (58.77%) 134 out of 228 (58.77%) Gain/Loss Ratio 1.28 1.08 0.96 (*) INDEX 155601 SIX Return Index is used as the benchmark for calculations. Value-at-risk metrics are based on monthly values. 01/02/2019 www.borssignaler.se 4 of 14
Timing Model Returns Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Inflation Balance 2000 2.29% 14.90% -1.44% 0.09% -2.65% -3.88% 0.51% -0.39% -1.07% -0.74% -2.59% 1.06% 4.98% 3.39% $10,498 2001 0.57% 0.24% 0.70% -0.79% -0.14% 0.06% 0.68% 0.72% 0.29% 1.00% 0.05% -0.31% 3.09% 1.55% $10,823 2002 0.19% 0.13% 2.26% -3.06% -0.73% 0.69% 0.71% 0.64% 0.93% 0.23% 0.59% 1.40% 3.96% 2.38% $11,251 2003 0.66% 0.71% -0.06% 0.27% 0.51% 0.17% 2.51% 4.72% 0.08% 7.30% 2.96% 3.56% 25.72% 1.88% $14,145 2004 8.19% 1.89% -3.34% 2.03% -2.24% 2.98% -3.96% 1.03% 0.43% 0.01% 3.32% 2.08% 12.46% 3.26% $15,907 2005 0.23% 5.23% 3.22% -1.75% 5.40% 6.13% 2.29% 1.78% 5.11% -2.18% 5.62% 4.14% 40.91% 3.42% $22,415 2006-0.21% 4.77% 5.54% 0.32% -8.60% 1.27% -1.76% 0.17% 2.46% 0.11% -2.46% 8.96% 9.92% 2.54% $24,638 2007 2.92% -2.56% 5.33% 6.36% 1.46% -2.90% -2.15% -1.14% -0.82% -1.56% 0.34% 0.03% 4.91% 4.08% $25,846 2008 1.52% -0.06% 0.35% -0.01% -0.41% -0.01% 0.37% 0.71% 0.66% 2.28% 2.17% 2.20% 10.17% 0.09% $28,474 2009-0.92% 1.44% -0.14% -0.32% 4.50% 0.87% 6.49% 3.83% 1.40% 4.29% 1.32% 2.03% 27.45% 2.72% $36,291 2010 1.56% -1.14% 8.65% 1.17% -3.80% -4.50% 2.16% -0.32% 3.66% -1.41% 1.71% 9.60% 17.64% 1.50% $42,695 2011-1.42% -2.68% 2.85% -0.93% 1.18% -4.18% 1.28% 1.39% 1.21% -0.51% 1.42% 0.66% 0.03% 2.96% $42,709 2012 0.65% 0.46% 0.86% 1.08% -1.77% -1.30% 0.73% -1.17% 0.71% -0.35% 2.06% 0.44% 2.35% 1.74% $43,713 2013 5.38% 4.99% 1.31% 0.79% 2.32% -1.28% 2.35% 0.17% 3.49% 3.66% 5.51% 0.61% 33.25% 1.50% $58,249 2014-1.16% 5.20% -0.11% 1.78% 4.81% 1.78% -0.77% 3.65% 0.82% 4.26% 2.75% 4.52% 30.92% 0.76% $76,257 2015 4.07% 5.07% 0.90% 1.03% 2.19% -6.64% 4.62% -4.43% -0.37% 4.39% 4.66% -2.19% 13.22% 0.73% $86,340 2016-6.38% 1.02% 1.17% -0.77% 0.27% 0.71% 2.55% 1.23% 1.20% -0.11% 5.21% -0.26% 5.59% 2.07% $91,168 2017 0.09% 4.74% -0.81% 2.45% 2.70% -2.38% -2.42% -0.85% 5.23% 2.99% -0.27% 0.06% 11.76% 2.11% $101,889 2018 0.84% 1.62% -1.87% 4.67% 3.74% 1.74% 1.00% 4.94% -2.82% -5.95% 0.92% -5.24% 2.92% 2.24% $104,863 01/02/2019 www.borssignaler.se 5 of 14
Equal Weight Portfolio Returns Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Inflation Balance 2000 0.86% 6.82% 1.17% -0.18% -1.94% -0.88% 1.65% 2.68% -3.58% -1.43% -3.25% -2.70% -1.23% 3.39% $9,877 2001 2.07% -5.68% -4.38% 4.37% 1.81% -2.95% -2.75% -3.47% -5.29% 3.25% 5.19% 0.36% -8.01% 1.55% $9,086 2002-3.19% -0.46% 1.49% -4.68% -2.86% -6.09% -4.50% -1.24% -7.64% 5.66% 4.73% -5.55% -22.57% 2.38% $7,035 2003-3.61% -0.73% -1.18% 5.53% 0.60% 3.99% 3.02% 2.65% -2.63% 4.49% 0.62% 2.07% 15.37% 1.88% $8,117 2004 4.32% 1.59% -0.79% 0.07% -1.47% 1.74% -1.86% -0.27% 0.64% -0.12% 2.86% 1.65% 8.50% 3.26% $8,806 2005 1.17% 1.95% 1.53% -1.03% 4.68% 4.16% 2.12% -0.51% 3.50% -0.69% 3.68% 2.03% 24.83% 3.42% $10,993 2006-0.49% 3.31% 1.58% -1.34% -4.95% 0.58% -0.13% 2.10% 3.06% 1.47% -0.10% 3.99% 9.11% 2.54% $11,994 2007 1.59% -0.69% 2.50% 2.25% 2.56% -1.97% -1.72% -0.91% -1.16% -0.64% -4.00% -0.32% -2.69% 4.08% $11,671 2008-7.08% 0.68% -2.50% 3.82% 1.17% -6.62% 0.06% 2.46% -5.88% -6.68% -0.66% -0.42% -20.31% 0.09% $9,301 2009 1.26% -0.14% -0.73% 10.59% 1.46% 1.30% 3.22% 1.73% 1.44% 1.91% 1.25% 2.62% 28.67% 2.72% $11,967 2010 0.23% -0.41% 5.65% 1.89% -2.59% -1.89% 1.05% -1.80% 3.44% 1.22% 1.87% 4.38% 13.45% 1.50% $13,576 2011-1.62% -0.09% 0.70% 0.35% 1.19% -1.04% -1.70% -4.78% -1.60% 4.04% -0.26% 2.27% -2.78% 2.96% $13,199 2012 3.32% 2.56% 0.00% 0.94% -1.62% -0.34% 1.49% -0.66% 1.63% -0.33% 1.01% 0.38% 8.59% 1.74% $14,333 2013 3.11% 2.57% 1.86% 1.06% 2.66% -1.81% 3.07% -0.80% 2.14% 2.43% 3.00% 0.43% 21.43% 1.50% $17,406 2014-0.85% 3.34% 0.94% 1.36% 3.81% 0.89% 0.33% 1.53% -0.00% 2.94% 1.94% 2.37% 20.13% 0.76% $20,910 2015 4.08% 4.60% 1.17% -0.18% 1.55% -4.22% 3.38% -3.62% -1.91% 5.46% 2.20% -2.32% 10.04% 0.73% $23,010 2016-3.57% 1.01% 0.82% -0.60% 2.75% -1.31% 3.72% 0.92% 0.69% 0.59% 2.07% 0.88% 8.08% 2.07% $24,868 2017-0.14% 3.44% -0.18% 1.85% 0.93% -1.73% -1.58% -0.59% 3.38% 2.71% -0.17% 0.06% 8.08% 2.11% $26,878 2018 0.74% 0.63% -1.21% 3.42% 1.42% 0.62% 1.15% 3.04% -1.43% -4.09% -0.55% -5.30% -1.92% 2.24% $26,362 01/02/2019 www.borssignaler.se 6 of 14
INDEX 155601 SIX Return Index Returns Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Inflation Balance 2000 2.22% 15.78% -3.78% 1.87% -2.78% -4.71% 0.86% 1.85% -8.24% -3.20% -6.92% -2.27% -10.80% 3.39% $8,920 2001 5.48% -10.79% -12.95% 12.23% 0.79% -5.38% -1.99% -7.72% -11.59% 6.90% 11.79% 1.66% -14.83% 1.55% $7,597 2002-5.93% 0.70% 2.73% -7.71% -5.98% -7.50% -10.95% -2.67% -15.03% 12.89% 12.82% -12.50% -35.90% 2.38% $4,870 2003-3.67% -1.58% -2.18% 14.92% -0.18% 4.21% 7.00% 3.62% -3.21% 8.92% 0.42% 3.10% 34.17% 1.88% $6,534 2004 5.84% 3.77% -1.16% 1.30% -1.19% 3.38% -1.85% -0.52% 3.27% -0.01% 5.93% 0.66% 20.76% 3.26% $7,891 2005 0.70% 4.67% 0.35% -1.04% 5.57% 4.14% 5.00% -1.13% 5.67% -1.97% 4.01% 5.93% 36.35% 3.42% $10,759 2006 1.44% 3.61% 6.90% 0.93% -7.95% 0.92% -1.33% 4.40% 5.21% 4.53% -0.94% 8.31% 28.04% 2.54% $13,776 2007 3.26% -2.19% 5.57% 6.75% 1.95% -2.23% -1.50% -2.64% -0.40% -1.92% -6.49% -2.00% -2.60% 4.08% $13,418 2008-12.27% 3.43% -1.65% 4.91% 2.86% -13.98% -0.69% 1.26% -12.33% -17.77% -2.12% 3.69% -39.05% 0.09% $8,178 2009-5.65% 2.82% 1.45% 21.72% 2.85% 0.98% 10.36% 3.40% 0.62% 4.76% -0.01% 1.91% 52.50% 2.72% $12,471 2010 0.81% -0.52% 8.78% 4.22% -6.89% 1.45% 4.60% -3.17% 8.42% 0.04% 1.43% 5.86% 26.68% 1.50% $15,799 2011-1.17% -1.61% 2.27% 4.02% -0.53% -3.50% -4.69% -10.48% -5.89% 8.83% -1.41% 1.11% -13.50% 2.96% $13,665 2012 5.83% 6.30% -1.03% -0.15% -6.59% 3.04% 4.19% -2.22% 3.03% -1.41% 3.09% 2.05% 16.49% 1.74% $15,919 2013 5.50% 3.57% 0.91% 2.06% 2.14% -5.04% 7.17% -1.04% 4.07% 1.72% 2.27% 2.09% 27.94% 1.50% $20,367 2014-1.66% 6.06% 0.64% 1.89% 3.75% -1.35% -0.74% 0.64% -0.16% 1.55% 3.36% 1.06% 15.81% 0.76% $23,586 2015 7.10% 8.07% 0.02% 0.23% 1.22% -6.37% 5.00% -5.93% -4.43% 6.93% 3.67% -4.07% 10.39% 0.73% $26,036 2016-7.14% 2.03% 1.93% 0.91% 2.49% -3.57% 5.53% 2.47% 1.78% -0.95% 1.44% 2.92% 9.62% 2.07% $28,541 2017 1.25% 2.95% 2.14% 4.36% 1.72% -1.96% -3.02% -0.86% 5.60% 2.12% -3.49% -1.26% 9.48% 2.11% $31,246 2018 1.57% -0.73% -1.29% 4.39% -0.11% 0.30% 4.12% 2.58% 0.09% -7.15% -1.56% -6.03% -4.42% 2.24% $29,864 Drawdowns for Historical Market Stress Periods Stress Period Start End Timing Model Equal Weight Portfolio INDEX 155601 SIX Return Index Dotcom Crash Mar 2000 Oct 2002-11.61% -39.02% -63.08% Subprime Crisis Nov 2007 Mar 2009-0.93% -23.74% -47.30% 01/02/2019 www.borssignaler.se 7 of 14
Drawdowns for Timing Model (worst 10) Rank Start End Length Recovery By Recovery Time Underwater Period Drawdown 1 Sep 2018 Dec 2018 4 months -12.60% 2 Mar 2000 Nov 2000 9 months Jul 2003 2 years 8 months 3 years 5 months -11.61% 3 May 2006 Jul 2006 3 months Jan 2007 6 months 9 months -9.07% 4 Dec 2015 Jan 2016 2 months Nov 2016 10 months 1 year -8.43% 5 Jun 2007 Oct 2007 5 months Dec 2008 1 year 2 months 1 year 7 months -8.30% 6 May 2010 Jun 2010 2 months Dec 2010 6 months 8 months -8.13% 7 Jun 2015 Sep 2015 4 months Nov 2015 2 months 6 months -6.98% 8 Jun 2017 Aug 2017 3 months Oct 2017 2 months 5 months -5.56% 9 Jan 2011 Jun 2011 6 months Dec 2011 6 months 1 year -5.23% 10 Mar 2004 Jul 2004 5 months Dec 2004 5 months 10 months -4.67% Drawdowns for Equal Weight Portfolio (worst 10) Rank Start End Length Recovery By Recovery Time Underwater Period Drawdown 1 Sep 2000 Mar 2003 2 years 7 months Feb 2006 2 years 11 months 5 years 6 months -39.73% 2 Jun 2007 Dec 2008 1 year 7 months Dec 2010 2 years 3 years 7 months -28.50% 3 Sep 2018 Dec 2018 4 months -10.96% 4 Jun 2011 Sep 2011 4 months Feb 2012 5 months 9 months -8.84% 5 Jun 2015 Sep 2015 4 months Nov 2015 2 months 6 months -6.38% 6 Apr 2006 May 2006 2 months Oct 2006 5 months 7 months -6.23% 7 Dec 2015 Jan 2016 2 months Jul 2016 6 months 8 months -5.81% 8 Jun 2017 Aug 2017 3 months Oct 2017 2 months 5 months -3.86% 9 Apr 2000 Jun 2000 3 months Aug 2000 2 months 5 months -2.98% 10 May 2012 Jun 2012 2 months Sep 2012 3 months 5 months -1.95% 01/02/2019 www.borssignaler.se 8 of 14
Drawdowns for INDEX 155601 SIX Return Index (worst 10) Rank Start End Length Recovery By Recovery Time Underwater Period Drawdown 1 Mar 2000 Sep 2002 2 years 7 months Mar 2006 3 years 6 months 6 years 1 month -63.08% 2 Jun 2007 Jan 2009 1 year 8 months Apr 2011 2 years 3 months 3 years 11 months -51.73% 3 May 2011 Sep 2011 5 months Jan 2013 1 year 4 months 1 year 9 months -22.92% 4 Oct 2018 Dec 2018 3 months -14.11% 5 Jun 2015 Jan 2016 8 months Nov 2016 10 months 1 year 6 months -12.72% 6 May 2006 Jul 2006 3 months Sep 2006 2 months 5 months -8.34% 7 Jun 2017 Aug 2017 3 months Oct 2017 2 months 5 months -5.74% 8 Nov 2017 Mar 2018 5 months Jul 2018 4 months 9 months -5.16% 9 Jun 2013 Jun 2013 1 month Jul 2013 1 month 2 months -5.04% 10 Feb 2007 Feb 2007 1 month Mar 2007 1 month 2 months -2.19% 01/02/2019 www.borssignaler.se 9 of 14
Timing Periods # Start End Assets Timing Portfolio Equal Weight Portfolio INDEX 155601 SIX Return Index 1 Jan 2000 Jun 2000 2 Jul 2000 Jul 2000 3 Aug 2000 Aug 2000 4 Sep 2000 Nov 2000 5 Dec 2000 Jun 2001 50.00% [F] Rantefond kort 8.48% 5.75% 7.47% 0.51% 1.65% 0.86% -0.39% 2.68% 1.85% -4.36% -8.04% -17.32% 1.70% -7.63% -14.32% 6 Jul 2001 Jul 2001 100.00% [F] Rantefond kort 0.68% -2.75% -1.99% 7 Aug 2001 Feb 2002 50.00% [F] Rantefond kort 8 Mar 2002 May 2002 50.00% [F] Rantefond kort 9 Jun 2002 Apr 2003 50.00% [F] Rantefond kort 10 May 2003 May 2003 11 Jun 2003 Jun 2003 50.00% [F] Rantefond kort 12 Jul 2003 Jul 2003 13 Aug 2003 Jul 2004 14 Aug 2004 Aug 2004 15 Sep 2004 Sep 2004 50.00% [F] Rantefond kort 16 Oct 2004 Oct 2004 50.00% [F] Rantefond kort 17 Nov 2004 Nov 2004 18 Dec 2004 May 2005 19 Jun 2005 Jul 2005 20 Aug 2005 Aug 2005 21 Sep 2005 Sep 2005 2.07% -3.97% -6.11% -1.59% -6.02% -10.86% 6.97% -14.68% -19.09% 0.51% 0.60% -0.18% 0.17% 3.99% 4.21% 2.51% 3.02% 7.00% 26.02% 11.02% 24.70% 1.03% -0.27% -0.52% 0.43% 0.64% 3.27% 0.01% -0.12% -0.01% 3.32% 2.86% 5.93% 15.09% 10.29% 11.23% 8.56% 6.37% 9.35% 1.78% -0.51% -1.13% 5.11% 3.50% 5.67% 01/02/2019 www.borssignaler.se 10 of 14
# Start End Assets Timing Portfolio Equal Weight Portfolio INDEX 155601 SIX Return Index 22 Oct 2005 Oct 2005 23 Nov 2005 Dec 2005 24 Jan 2006 Jan 2006 25 Feb 2006 Feb 2006 26 Mar 2006 Jul 2006-2.18% -0.69% -1.97% 10.00% 5.78% 10.18% -0.21% -0.49% 1.44% 4.77% 3.31% 3.61% -3.72% -4.32% -1.10% 27 Aug 2006 Aug 2006 100.00% [F] Rantefond kort 0.17% 2.10% 4.40% 28 Sep 2006 Sep 2006 50.00% [F] Rantefond kort 29 Oct 2006 Oct 2006 50.00% [F] Rantefond kort 30 Nov 2006 Nov 2006 31 Dec 2006 Jun 2007 32 Jul 2007 Sep 2007 33 Oct 2007 Oct 2007 50.00% [F] Rantefond kort 34 Nov 2007 Jun 2008 50.00% [F] Rantefond kort 2.46% 3.06% 5.21% 0.11% 1.47% 4.53% -2.46% -0.10% -0.94% 20.59% 10.55% 22.88% -4.07% -3.74% -4.48% -1.56% -0.64% -1.92% 1.76% -14.39% -24.09% 35 Jul 2008 Jul 2008 100.00% [F] Rantefond kort 0.37% 0.06% -0.69% 36 Aug 2008 Apr 2009 50.00% [F] Rantefond kort 37 May 2009 Jan 2010 38 Feb 2010 Feb 2010 39 Mar 2010 Jun 2010 40 Jul 2010 Oct 2010 41 Nov 2010 Mar 2011 42 Apr 2011 Apr 2011 43 May 2011 Jun 2011 8.30% -1.17% -11.25% 29.39% 16.17% 28.33% -1.14% -0.41% -0.52% 0.99% 2.88% 7.09% 4.08% 3.90% 9.86% 9.99% 5.23% 6.78% -0.93% 0.35% 4.02% -3.05% 0.14% -4.01% 44 Jul 2011 Oct 2011 50.00% [F] Rantefond kort 3.40% -4.17% -12.61% 01/02/2019 www.borssignaler.se 11 of 14
# Start End Assets Timing Portfolio Equal Weight Portfolio INDEX 155601 SIX Return Index 45 Nov 2011 Nov 2011 46 Dec 2011 Dec 2011 50.00% [F] Rantefond kort 47 Jan 2012 Feb 2012 48 Mar 2012 Mar 2012 49 Apr 2012 Apr 2012 50 May 2012 Jul 2012 51 Aug 2012 Aug 2012 52 Sep 2012 Sep 2012 53 Oct 2012 Nov 2012 54 Dec 2012 Dec 2012 55 Jan 2013 May 2013 56 Jun 2013 Jun 2013 57 Jul 2013 Jul 2013 58 Aug 2013 Dec 2013 59 Jan 2014 Jan 2014 60 Feb 2014 Feb 2014 61 Mar 2014 Mar 2014 62 Apr 2014 Apr 2014 63 May 2014 May 2014 64 Jun 2014 Jul 2014 65 Aug 2014 Feb 2015 1.42% -0.26% -1.41% 0.66% 2.27% 1.11% 1.11% 5.96% 12.50% 0.86% 0.00% -1.03% 1.08% 0.94% -0.15% -2.33% -0.49% 0.28% -1.17% -0.66% -2.22% 0.71% 1.63% 3.03% 1.70% 0.68% 1.64% 0.44% 0.38% 2.05% 15.62% 11.77% 14.94% -1.28% -1.81% -5.04% 2.35% 3.07% 7.17% 14.07% 7.36% 9.38% -1.16% -0.85% -1.66% 5.20% 3.34% 6.06% -0.11% 0.94% 0.64% 1.78% 1.36% 1.89% 4.81% 3.81% 3.75% 1.00% 1.22% -2.08% 27.93% 18.73% 23.36% 01/02/2019 www.borssignaler.se 12 of 14
# Start End Assets Timing Portfolio Equal Weight Portfolio INDEX 155601 SIX Return Index 66 Mar 2015 Apr 2015 67 May 2015 Jul 2015 68 Aug 2015 Aug 2015 69 Sep 2015 Sep 2015 70 Oct 2015 Oct 2015 50.00% [F] Rantefond kort 71 Nov 2015 Jan 2016 72 Feb 2016 Mar 2016 73 Apr 2016 Apr 2016 50.00% [F] Rantefond kort 74 May 2016 Jun 2016 50.00% [F] Rantefond kort 75 Jul 2016 Jul 2016 76 Aug 2016 Oct 2016 77 Nov 2016 Dec 2016 78 Jan 2017 Feb 2017 79 Mar 2017 Mar 2017 80 Apr 2017 Apr 2017 81 May 2017 Oct 2017 82 Nov 2017 Nov 2017 83 Dec 2017 Apr 2018 84 May 2018 Oct 2018 85 Nov 2018 Dec 2018 86 Jan 2019 Jan 2019 50.00% [F] Rantefond kort 1.94% 0.99% 0.25% -0.18% 0.56% -0.49% -4.43% -3.62% -5.93% -0.37% -1.91% -4.43% 4.39% 5.46% 6.93% -4.17% -3.74% -7.65% 2.20% 1.84% 4.00% -0.77% -0.60% 0.91% 0.98% 1.41% -1.17% 2.55% 3.72% 5.53% 2.32% 2.22% 3.30% 4.95% 2.97% 4.40% 4.84% 3.29% 4.24% -0.81% -0.18% 2.14% 2.45% 1.85% 4.36% 5.12% 3.03% 3.40% -0.27% -0.17% -3.49% 5.32% 3.64% 2.59% 2.24% 0.56% -0.55% -4.37% -5.83% -7.50% - - - 01/02/2019 www.borssignaler.se 13 of 14
Notes: Past performance is not a guarantee of future returns and data and other errors may exist. See Disclaimer and Terms of Use An equal-weight allocation is used for the assets held by the momentum model The equal-weight buy-and-hold benchmark portfolio assumes annual rebalancing The results for the timing portfolio assume monthly rebalancing trades The relative strength signal is based on total return including dividends The moving average signal is based on total return and accounts for splits and dividends Additional trading costs and taxes for timing models are not reflected in the results CAGR = Compound Annual Growth Rate Stdev = Annualized standard deviation of monthly returns Sharpe and Sortino ratios are calculated and annualized from monthly excess returns over the risk free rate (1-month treasury bill) Stock market correlation is based on the correlation of monthly returns Drawdowns are calculated based on monthly returns Refer to the FAQ regarding the list of data sources and methodology for additional details 01/02/2019 www.borssignaler.se 14 of 14